Wednesday, December 10, 2008

ScienceDaily (2008-01-11) -- Leading marine scientists from across the world have issued a warning that it is too early to sell carbon offsets from ocean iron fertilization. Despite the scientific uncertainties, private companies are currently planning larger-scale iron releases to generate the sale of carbon credits.

Sunday, November 30, 2008

A small pig farm based in Philippines, Daniel Co,used to shovel the pig waste from his 10,000 animals into ponds on his Uni-Rich Agro Industrial farm. The manure generated thousands of tons of methane, a global warming gas, but he did not want to spend £110,000 on kit to trap the gas.

Then EcoSecurities, a British carbon trading firm, worked out that anything that captured the methane would entitle the farmer annually to nearly 3,000 “certified emission reductions” – the nearest thing to a carbon trading currency.

EcoSecurities did the paperwork for Co and gave him just over £2 per certificate. He put in the methane-capture kit, generating power and saving about £24,000 a year in utility bills. EcoSecurities sells the CERs for about £10 each to a French bank, which sells them on to power plants that need to offset emissions. The consumer pays through higher bills. A nice little earner for everyone except the poor mugs (us) at the end of the chain – but can it save the planet?